ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have made “significant progress” on the first review of a $7 billion loan program Islamabad secured last year, the IMF mission chief said on Friday.
The South Asian country, which has faced an economic meltdown in recent years, is treading a long path to economic recovery under the $7 billion IMF program it secured in Sept. last year.
An IMF mission visited Pakistan from Feb. 24 till Mar. 14 to analyze Islamabad’s progress on key conditions as part of the first review of the facility. A successful review will result in the release of around $1 billion as second installment under the program.
In a statement on Friday, IMF Mission Chief Nathan Porter said the two sides made significant progress toward reaching a staff-level agreement on the first review under the 37-month program, and they would continue policy discussions virtually to finalize the review over the coming days.
“Program implementation has been strong, and the discussions have made considerable progress in several areas including the planned fiscal consolidation to durably reduce public debt, maintenance of sufficiently tight monetary policy to maintain low inflation, acceleration of cost-reducing reforms to improve energy sector viability, and implementation of Pakistan’s structural reform agenda to accelerate growth, while strengthening social protection and rebuilding health and education spending,” Porter said.
Pakistan’s Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb have previously said they were confident of meeting targets of the IMF program.
The South Asian country was able to build some trust with the IMF by completing a short-term, nine-month program last year. Previous loan programs in Pakistan ended prematurely or saw delays after the governments at the time faltered on meeting key conditions.
Pakistan also seeks to secure an additional $1.5 billion loan from the IMF to deal with climate-related issues under a Resilience and Sustainability Facility (RSF) arrangement.
“Progress has also been made in discussions on the authorities’ climate reform agenda, which aims to reduce vulnerabilities from natural disasters-related risks, and accompanying reforms which could be supported under a possible arrangement under the Resilience and Sustainability Facility (RSF),” Porter said.
“The IMF team is grateful to the Pakistani authorities, private sector, and development partners for fruitful discussions and their hospitality throughout this mission.”
Pakistan, IMF make ‘significant progress’ on first review of $7 billion program — IMF mission chief
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Pakistan, IMF make ‘significant progress’ on first review of $7 billion program — IMF mission chief
- The development comes as an IMF mission concluded its weeks-long visit to Pakistan to review Islamabad’s progress on key conditions under the program
- Progress has also been made in discussions on Pakistan’s climate reform agenda, which aims to reduce natural disasters-related vulnerabilities, IMF says
Pakistan begins preparations to host 2026 OIC ministerial conference on women
- Deputy PM Ishaq Dar says Pakistan is committed to advancing gender equality within the OIC framework
- He says Pakistan seeks to strengthen and expand cooperation on women’s issues across the Muslim world
ISLAMABAD: Pakistan has begun preparations to host the 9th Organization of Islamic Cooperation (OIC) Ministerial Conference on Women in 2026, Deputy Prime Minister and Foreign Minister Ishaq Dar said on Monday, marking the start of inter-ministerial coordination for one of the bloc’s top policy forums on gender issues.
The conference, held approximately every three to four years, gathers ministers from OIC member states to review progress on women’s rights, share national policies and adopt new frameworks.
Previous ministerial meetings have focused on themes such as women’s economic empowerment, combating gender-based violence, and improving access to education and health.
“Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 chaired a meeting to review preparations for 9th OIC Ministerial Conference on Women, to be hosted by Pakistan in 2026,” the foreign office said in a social media post.
“The DPM/FM underscored the importance of successfully organizing the conference through close coordination with the OIC Secretariat and relevant Ministries,” it added.
He highlighted Pakistan’s “proactive role” in advancing gender equality within the OIC and said hosting the 2026 gathering reflected the country’s commitment to strengthening cooperation on women’s issues across the Muslim world.
Senior ministers, secretaries from key federal divisions, Pakistan’s permanent representative to the OIC and other officials attended the meeting, which discussed preparatory arrangements and coordination needs.
While Pakistan has confirmed its role as host, no dates, venue or thematic agenda for the 2026 conference have yet been announced.
The previous OIC ministerial conference on women was held in Cairo in 2021, and focused on women’s empowerment, protection frameworks and socio-economic participation.
